It seems, at least to me, that everywhere I turn I find information on how to prevent foreclosure of my house. It also seems that everywhere I look I find information on how to stay within a budget (usually, the best tip is don't go to Starbucks!). However, when reading these articles there is almost never any good information on what to do if someone has credit card debt - or any other debt that is not going to be solved by skipping the $5 daily Latte. Clearly, if there are millions of houses going into foreclosure then there are at least that many people with credit card (or other unsecured debt) problems.
With that being the case what should someone do if they experience some sort of financial hardship and are either behind in their payments or likely will be in the future? There are some out there who would say that the person with the credit card debt should take on a second or third job and if necessary sell their car and pawn their wedding ring. However, with the economy in the shape it is that is wishful thinking for many people who would love to have even one job and who quite possibly have already pawned their ring or sold it to the "We Buy Gold" people. Also, if you live in Phoenix you most likely aren't going to get a job if you don't have a car so losing the car isn't the best option (there are some cities with nice public transportation where its possible to live without a car - Phoenix is certainly not one of those cities).
The best option for someone with large amounts of debt that they can no longer afford is to settle those accounts. That can mean scrimping and saving to make an extra $100 payment every month. In many situations though the minimum payment isn't even possible let alone an additional payment on top. In that case the best option is to set up an appointment with a private company who settles unsecured debt and discuss your options.
I highly recommend doing your homework when choosing a company as there are many out there who will make the situation even worse. For example, many of the debt reduction companies are actually affiliates of the banks that issue the credit cards. Clearly, you don't want to talk to one of those companies. There are also many scams to be on the lookout for. In one popular scam the scam artist requests that funds to pay off the credit card companies be sent to an account that they control. After funds are sent, the scammer is on his merry way to Costa Rica or wherever else scammers like to go. All the while, of course, no accounts are settled. Other scams involve upfront fees and also end up with no accounts settled and the scam artist in Costa Rica.
Our company only charges as a fee a portion of the debt that we are able to negotiate away. That means that you don't pay anything up front and won't pay anything at all if we are not able to save you money. Of course I'm biased, but I feel that is the best situation for the client as the interests of the client and the debt solution company are perfectly in alignment. Also, by using a third party trustee account you can be sure that we're not planning on just running off with your money. If interested in setting up an appointment with our debt specialists call 480 532-7999 anytime for a consultation.
Of course, our company is not the only good debt settlement company out there and regardless of whether you end up using our company or not it is important to do your homework.
